Here's a quick summary of the latest news about Meta this week:
1. **Llama 3 400B Release**: Meta is set to release the Llama 3 400B AI model next week. This model is expected to outperform competitors like Google's Gemma and Anthropic's Claude Sonnet¹.
2. **Stock Performance**: Meta Platforms' stock hit a 52-week high of $542.81 on July 8th, closing at $529.32. This marks a significant year-to-date increase of 49.5%².
3. **Mass Layoffs**: Meta is reportedly planning mass layoffs, which will impact thousands of employees. This would be the largest round of layoffs in the company's history⁶.
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